How much over spot should you pay for gold or silver?
The single number every stacker weighs — what a fair premium over spot actually is, with today's live range across dealers.
There's no single “correct” premium — but there are fair ranges, and they depend on three things: the metal, the weight, and the product. As a rough orientation, a 1 oz government gold coin usually costs a low-to-mid single-digit percentage over spot; a 1 oz silver coin runs much higher in percentage terms; bars and generic rounds sit below coins; and small fractional pieces cost the most per ounce. The only way to know what's fair today is to compare live — so here's the current market.
Notice two patterns immediately: silver's percentage premium dwarfs gold's, and the smaller fractional piece is the most expensive per ounce. Both are structural, not a dealer gouging you — here's why, and how to judge a fair number for the exact product you want.
What actually drives the premium
Five factors move the number. Understanding them lets you sanity-check any quote instead of guessing.
| Factor | Effect on premium |
|---|---|
| Metal | Silver's % premium is far higher than gold's — fixed per-coin costs are a bigger share of a cheap ounce. |
| Weight / size | Premium per ounce rises as pieces get smaller. A 1/10 oz coin costs much more per ounce than a 1 oz; a 10 oz bar costs less. |
| Product type | Government coins > private rounds > cast/minted bars, roughly. You pay for recognition and fabrication. |
| Mint & brand | Sovereign mints (US, Royal Canadian, Perth…) command more than generic private mints for the same weight. |
| Dealer & payment | Premiums differ dealer to dealer, and a credit-card price typically runs a few percent above the advertised cash/wire figure. |
Want the cheapest example of a specific product? Jump straight to the live cheapest-by-weight board, or browse by coin series if you have a favorite like the Maple Leaf or Eagle.
What “premium over spot” really is
Spot is the live market price of the raw metal — the melt value of one troy ounce. The premiumis everything a dealer charges above that melt value: minting or casting, distribution, the mint's own margin, dealer overhead, and supply-and-demand pressure. It is a real cost of owning physicalmetal rather than paper exposure, and it's the number that separates a good buy from a bad one, because the underlying spot price is the same everywhere.
The most common misconception is that a lower premium is automatically better. Premium is a cost you pay on the way in — but recognized sovereign coins also tend to sell more easily and closer to spot on the way out. A tiny premium on an obscure product can cost you later in harder, cheaper resale. Think of premium as one side of a round-trip, not just the sticker.
How to calculate it — a worked example
The formula is simple. For a single unit:
premium % = (dealer price per oz − spot) ÷ spot × 100
- Gold: spot is $4,000/oz and a dealer lists a 1 oz coin at $4,160 cash. Premium = $160, or 160 ÷ 4,000 = 4.0% over spot.
- Silver: spot is $30/oz and a 1 oz coin is $34.50 cash. Premium = $4.50, or 4.50 ÷ 30 = 15% over spot — a bigger percentage from a smaller dollar amount.
- Fractional gold: spot $4,000 and a 1/10 oz coin at $460 means $60 over the $400 of metal, or 15% over spot— four×+ the 1 oz coin's percentage.
StackerSpot does this math for every offer automatically and normalizes each product to a per-ounce basis, so you compare like for like. See exactly how in our methodology.
What to check before you buy
The advertised premium is the start of the story, not the end. Before checkout, verify:
- Payment method — is the price the cash/wire figure, or the card price? Card usually adds a few percent.
- Shipping & insurance — flat or tiered; small orders get hit hardest.
- Sales tax — varies by state and product; some jurisdictions exempt bullion, others don't.
- Minimums & stock — order minimums and real availability (not just a listing).
- How fresh the price is — dealer prices move with spot; confirm on the dealer's site before paying. Our data & coverage page tracks how each dealer updates.
See a fair premium for what you're actually buying
Live cash/wire premiums across every major dealer, ranked lowest first.
Common questions
What is a good premium for a 1 oz Silver Eagle?
Silver American Eagles almost always carry a higher premium than generic rounds or bars because they're a government-minted, highly recognized coin. A fair figure is whatever the live market shows across dealers — check the current cheapest and typical premium rather than a fixed rule of thumb, because silver premiums move a lot with demand.
Why is the premium on silver higher than on gold?
Premium covers fabrication, handling, and shipping, which are roughly fixed per coin. Those fixed costs are a small slice of an expensive ounce of gold but a large slice of a cheap ounce of silver, so silver's premium is a much bigger percentage even when the dollar cost is small.
Is the lowest premium always the best deal?
Not always. A rock-bottom premium on an obscure product can be a false economy if it's harder to sell later. Widely recognized sovereign coins often resell more easily and closer to spot. Weigh the premium you pay against how easily you can sell, and factor in shipping, tax, and payment method — the headline premium is only part of the landed cost.
Does the premium include shipping and taxes?
No. Premium is the markup on the product itself over the metal's melt value. Shipping, insurance, sales tax, and any credit-card surcharge are separate and can meaningfully change your total (landed) cost — especially on small orders.
Methodology & sources
Premium figures on this page are computed live from StackerSpot's dealer price data on a cash/wire basis and recomputed against current spot — see the full methodology and pricing basis. Unit definitions (troy ounce, gram, kilo) follow standard market conventions; product specifications reference the issuing mints. The worked examples use round hypothetical numbers for clarity. For a live dealer-vs-dealer view, see the dealer rankings or head-to-head comparisons.
Informational purposes only — not investment, financial, or tax advice, and not a licensed dealer or advisor. Prices are each dealer's cash/wire figure, change constantly, and may differ from the dealer's own site; always confirm before buying. See our methodology & disclaimer.